QY Research Inc. (Global Market Report Research Publisher) announces the release of 2025 latest report “Thermoplastic Vulcanizates (TPV)- Global Market Share and Ranking, Overall Sales and Demand Forecast 2026-2032”. Based on current situation and impact historical analysis (2020-2024) and forecast calculations (2026-2032), this report provides a comprehensive analysis of the global Thermoplastic Vulcanizates (TPV) market, including market size, share, demand, industry development status, and forecasts for the next few years.
The global market for Thermoplastic Vulcanizates (TPV) was estimated to be worth US$ 1281 million in 2025 and is projected to reach US$ 1377 million, growing at a CAGR of 1.1% from 2026 to 2032.
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Thermoplastic Vulcanizate Market Summary
Thermoplastic vulcanizate, or TPV, is a thermoplastic elastomer material in which thermoplastic polyolefin resins such as polypropylene serve as the continuous phase and rubber serves as the dispersed phase. During melt blending, the rubber phase is dynamically vulcanized and crosslinked, forming a characteristic structure in which crosslinked rubber particles are uniformly dispersed within the continuous polyolefin phase. TPV combines the high elasticity, sealing performance, heat aging resistance, and low compression set of vulcanized rubber with the processing advantages of thermoplastics, including ease of extrusion and injection molding, recyclability, and high manufacturing efficiency. Based on the type of rubber phase, TPV mainly includes EPDM/PP-based TPV, NBR/PP-based TPV, polyamide-based TPV, and other blend systems. It is widely used in automotive sealing systems, interior and exterior trim components, cable sheathing, tubing components, industrial vibration-damping parts, and protective components, and has become an important material for replacing certain conventional vulcanized rubbers and flexible PVC solutions.
Industry Overview
Thermoplastic vulcanizate (TPV) is one of the more promising growth segments within China’s thermoplastic elastomer market, and the industry is expected to remain on a moderate expansion trajectory in 2025. China’s TPV sales volume is projected to increase by 8% year on year in 2025, rising from 102.1 thousand tons in 2024 to 110.3 thousand tons. Based on company interviews, the average market price is estimated at RMB 20,000 per ton, implying that China’s TPV market size will reach RMB 2.205 billion in 2025. The main driver of growth continues to come from the automotive sector, particularly from increasing demand in applications such as automotive sealing strips, beltline seals, hoses, cable sheathing, and soft-touch components. In 2025, China’s automobile sales increased by 9.4% year on year, while new energy vehicle sales increased by 28.2%, with the clear improvement in vehicle market conditions directly boosting demand for lightweight, more weather-resistant, and recyclable elastic materials.
From the perspective of industry drivers and development trends, the growth logic of the TPV market is mainly reflected in three aspects. First, the continued advancement of vehicle lightweighting, platformization, and electrification is accelerating TPV substitution for conventional EPDM vulcanized rubber and some flexible PVC materials. Second, downstream customers are imposing increasingly stringent requirements on low odor, low VOC emissions, heat aging resistance, media resistance, and long-term dimensional stability, thereby driving the rising share of mid- to high-performance TPV products. Third, the material’s advantages in processing efficiency, recyclability, and overall cost performance are becoming more prominent, supporting further penetration in industrial sealing, home appliances, construction, and consumer goods. Over the next few years, China’s TPV industry is expected to continue evolving toward higher performance, greater specialization, and domestic substitution, while automotive sealing systems, fluid piping and wire harness protection for new energy vehicles, industrial-grade sealing components, and weather-resistant extrusion products will remain the main sources of incremental demand.
Figure00001. China Thermoplastic Vulcanizate Top 10 Players Ranking and Market Share (Ranking is based on the revenue of 2025, continually updated)
Above data is based on report from QYResearch: China Thermoplastic Vulcanizate Market Report 2026-2032 (published in 2026). If you need the latest data, plaese contact QYResearch.
According to QYResearch, major manufacturers in China’s Thermoplastic Vulcanizate market currently include Dawn Polymer, Celanese, Mitsui Chemical, Teknor Apex, Zhejiang Wanma-Tech New Mateial and Nanjing Jinling Opta Polymer. Among them, Dawn Polymer accounted for 38.2% of the market, indicating a relatively high level of market concentration.
1. Shandong Dawn Polymer Co., Ltd.
Product link: https://www.dawnprene.com/TPV/TPE.html
DAWNPRENE TPV is a thermoplastic dynamic vulcanizate. It is produced through the dynamic vulcanization of rubber within the molten plastic phase, while the rubber is simultaneously sheared into micron-sized vulcanized rubber particles, thereby forming a sea-island two-phase rubber-plastic structure. This coexisting two-phase system enables TPV materials to combine the respective characteristics of rubber and plastics, allowing thermoplastic processing while also delivering good resilience, making them a substitute for rubber. The material is fully recyclable, energy-saving, and environmentally friendly. Its technical performance indicators have reached or exceeded those of comparable international products, filling a gap in the domestic market. It has been recognized as a National Key New Product, and its production technology won the Second Prize of the National Technological Invention Award.
In 2025, Dawn’s global TPV sales volume was 45 thousand tons, of which around 40 thousand tons were sold in China.
2. Celanese
Product link: https://www.celanese.com/products/santoprene-tpv-thermoplastic-vulcanizates
In June 2021, Celanese acquired the Santoprene TPV brand from ExxonMobil as part of its broader TPV product portfolio. This acquisition expanded its engineering materials solutions and strengthened its elastomer product offerings.
In 2025, Celanese’s global TPV sales volume was 140–150 thousand tons, of which around 10 thousand tons were sold in China.
3. Teknor Apex
Product link: https://www.teknorapex.com/en-us/teknor-apexs-extensive-product-portfolio-of-vinyl-thermoplastic-elastomers-nylon-and-colorants/thermoplastic-elastomer/thermoplastic-vulcanizates-tpv
Sarlink TPV performs exceptionally well in demanding applications. Compared with other TPE materials, it offers superior elasticity, heat resistance, and chemical resistance. Sarlink TPV has been specified by global automotive OEMs and is gradually replacing EPDM rubber as the preferred material for flexible seals and components requiring long-term performance, driven by improvements in processing, design, and weight reduction.
In 2025, Teknor Apex’s global TPV sales volume was 40–50 thousand tons, of which around 6–7 thousand tons were sold in China.
4. Mitsui Chemicals
Product link: https://jp.mitsuichemicals.com/en/service/product/milastomer/index.htm
MILASTOMER
In 2025, Mitsui Chemicals’ global TPV sales volume was 30–40 thousand tons, of which around 7 thousand tons were sold in China.
The report provides a detailed analysis of the market size, growth potential, and key trends for each segment. Through detailed analysis, industry players can identify profit opportunities, develop strategies for specific customer segments, and allocate resources effectively.
The Thermoplastic Vulcanizates (TPV) market is segmented as below:
By Company
Celanese
Teknor Apex
Mitsui Chemicals
Dawn Polymer
Elastron
Kumho Petrochemical Co., Ltd.
Top Polymer
DuPont de Nemours，Inc.
RTP Company
Mitsubishi Chemical
Nanjing Jinling Opta Polymer Co., Ltd.(JLOPTA)
Zylog ElastoComp
Zhejiang Wanma-Tech New Mateial Co.,Ltd.
NANTEX INDUSTRY CO., LTD.
Segment by Type
EPDM/PP Blends
NBR/PP Blends
Nylon Based Blends
Others
Segment by Application
Automotive Components
Building & Construction
Household Appliances
Others
Each chapter of the report provides detailed information for readers to further understand the Thermoplastic Vulcanizates (TPV) market:
Chapter 1: Introduces the report scope of the Thermoplastic Vulcanizates (TPV) report, global total market size (valve, volume and price). This chapter also provides the market dynamics, latest developments of the market, the driving factors and restrictive factors of the market, the challenges and risks faced by manufacturers in the industry, and the analysis of relevant policies in the industry. (2021-2032)
Chapter 2: Detailed analysis of Thermoplastic Vulcanizates (TPV) manufacturers competitive landscape, price, sales and revenue market share, latest development plan, merger, and acquisition information, etc. (2021-2026)
Chapter 3: Provides the analysis of various Thermoplastic Vulcanizates (TPV) market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments. (2021-2032)
Chapter 4: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.(2021-2032)
Chapter 5: Sales, revenue of Thermoplastic Vulcanizates (TPV) in regional level. It provides a quantitative analysis of the market size and development potential of each region and introduces the market development, future development prospects, market space, and market size of each country in the world..(2021-2032)
Chapter 6: Sales, revenue of Thermoplastic Vulcanizates (TPV) in country level. It provides sigmate data by Type, and by Application for each country/region.(2021-2032)
Chapter 7: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product sales, revenue, price, gross margin, product introduction, recent development, etc. (2021-2026)
Chapter 8: Analysis of industrial chain, including the upstream and downstream of the industry.
Chapter 9: Conclusion.
Benefits of purchasing QYResearch report:
Competitive Analysis: QYResearch provides in-depth Thermoplastic Vulcanizates (TPV) competitive analysis, including information on key company profiles, new entrants, acquisitions, mergers, large market shear, opportunities, and challenges. These analyses provide clients with a comprehensive understanding of market conditions and competitive dynamics, enabling them to develop effective market strategies and maintain their competitive edge.
Industry Analysis: QYResearch provides Thermoplastic Vulcanizates (TPV) comprehensive industry data and trend analysis, including raw material analysis, market application analysis, product type analysis, market demand analysis, market supply analysis, downstream market analysis, and supply chain analysis.
and trend analysis. These analyses help clients understand the direction of industry development and make informed business decisions.
Market Size: QYResearch provides Thermoplastic Vulcanizates (TPV) market size analysis, including capacity, production, sales, production value, price, cost, and profit analysis. This data helps clients understand market size and development potential, and is an important reference for business development.
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